Archive By Section - HOME SCENE
Typical payment drops $2,500 a month
The first-time homebuyer story of four years ago in Manteca now seems like ancient history. The most popular loans were interest only with the typical monthly payment coming in at $4,000. Hardly any buyers were from Manteca let alone the Northern San Joaquin Valley. They were almost all exclusively Bay Area residents pushed eastward over the Altamont Pass. Manteca prices - $450,000 for a median price home of 1,900 square feet with three bedrooms and ...
Buyers of homes with deep value cuts will reap tax advantages for years to come
Call it the Darwin Proposition 13 effect. A home that sold for $413,000 in early 2006 is typically selling for about $178,000 today. Not only are the buyers getting more home for the dollar but they are getting a long-term tax break that will put them in a better position than a homeowner who bought a similar home in 2006 and holds on to it. Property taxes are typically one percent of the valuation in ...
Tale of two Manteca houses
There is still no rhyme or reason to the Manteca housing market as it enters the third year of full-scale foreclosure frenzy.
The case for a $10,000 California tax credit for homebuyers
The best way to keep California's housing construction pulse from straight-lining might just be Governor Arnold Schwarzenegger's proposal for reviving and expanding the $10,000 state home buyer's tax credit.
So is this the bottom?
Are things leveling out in the Manteca housing market? •The median price of existing home sales that close escrow has been virtually at a steady $175,000 for close to six months when you look at any particular point in time and include all homes sales going back 90 days. •New home builders enjoyed – at least compared to home builders elsewhere in San Joaquin County – 304 new home starts in 2003. The median sales ...
What goes down must come up
The typical transaction involving an existing home closing escrow in Manteca is flat – for now.
Move-up buyers now selling
More and more owner occupied homes that are not under duress are making their way to market. The number of short sales and foreclosures hasn't changed much for the past few months but what has is the available owner occupied homes. The noticeable increase is what sent overall listings past 200 for the first time since March. There were 205 available resale homes in Manteca's city limits as of Tuesday. For the first time in ...
FHA suspending 90-day rule for mortgages
Finally there is some relief coming for those first-time buyers battling investors for foreclosures.
Real Estate Believe it or Not
What a strange long year it's been. This past year has seen things happen in real estate that no one thought they'd ever see ranging from McMansions dropping from $750,000 at the market's peak in 2005 to some selling for $265,000 in mid-2009. And who would have thought you'd ever see homes selling in Manteca for less than $300,000 - the price fetched by old, two bedroom one bathroom houses back four years ago. If ...
When renting makes more sense
A household with two full-time workers each making minimum wage - $8 an hour – could afford to buy a $115,000 home if they have no other debt load and have the means to come up with $6,000 or so for down payment and closing costs.
It’s a mad, mad, mad market
The Manteca housing gods must be crazy. How else do you explain two deals that closed last week? A 1,352-square-foot home built in the late 1990s with three bedrooms and three bathrooms at 514 Mission Ridge Drive closed escrow for $131,750. That was $1,250 less than a three bedroom, two bathroom home with 1,164 square feet at 810 Ralph Avenue built at least 25 years prior that exchanged hands on Dec. 2 for $133,000. The ...
Housing: The end is coming
Don't look now but the clock is ticking on the most affordable housing era in post World War II Manteca history.
Smart money is snapping up homes
Out-of-state investors who have savvy are treating Manteca foreclosures as the deals of the century.
Condos $5,000 away from 80% decline
The Cherry Lane condos are on the verge of making Manteca history. A two-bedroom, one bathroom condo with 944 square feet closed escrow Oct. 14 for $45,000 or what used to be the price of a fully loaded Chevy Tahoe. It is just $5,000 above being exactly 80 percent lower than the peak price of $220,000 that a similar united closed escrow for 35 months ago. By contrast, the median resale price has dropped down ...
Rents drop by 15 percent plus
Rents for Manteca homes have dropped 15 to 20 percent across-the-board since the start of the year.
Articles by Section - HOME SCENE
Woodside Homes collecting Toys for Tots through Dec. 8
All Woodside Homes new home communities in the Sacramento and Northern Central Valley areas are collection sites for the U.S. Marine Corps Reserve Toys for Tots program.
Colors and accessories bring emotion to your living spaces
Home decor can convey many different emotions - from warmth and comfort on cold and dreary winter days to elegance and festiveness during the holiday season. The colors and materials you use set the stage; everything from the textures that appear in the accessories, the arrangement of the furniture and even how sound reverberates in a room.
Wonders why mandatory info not part of timeshares
RESPONSE FROM A READER: I have given some thought to the timeshare thing – and yes we had one and paid money to get rid of it.
Average rate on 30-year mortgage rises to 4.29 %
WASHINGTON (AP) - Average U.S. mortgage rates rose modestly this week, a move that makes home-buying a bit less affordable. Still, rates remain near historically low levels.
Home prices rose at slower pace in September
WASHINGTON (AP) - U.S. home prices rose more slowly in September than in August, a sign that weaker sales are preventing the kinds of sharp price gains that occurred earlier this year.
Winter renovations to boost home energy efficiency, add value
It's that time of year again, when the cold wind blows outdoors and your home works as hard as it can to keep you warm and comfortable indoors. Yet your home may be working harder than necessary, while inflating your energy bills in the process. By making a few home renovations this winter, you can boost energy efficiency, save money and add value to your home in the long run.
Shape up your home in time for the holidays
Excited about hosting a holiday party; but dreading the decorating? You don't have to spend a great deal of money or invest a lot of time to get your home holiday ready. There are a number of quick, easy and inexpensive projects you can complete to update your decor before the first guest rings the doorbell.
How to maintain your deck for year-round entertainment
Expanding livable space using decks and patios is a top home improvement trend, but today's homeowners aren't satisfied with limiting entertaining outdoors to the warmer months. With a few smart updates, they're creating spaces that make outdoor entertaining possible all year long. Breathe new life into your existing deck and create a space that can be used for entertaining year-round with a few expert tips.
Few supporting delaying changes in flood insurance
WASHINGTON (AP) - Efforts to delay implementation of changes in the federal flood insurance program have run into roadblocks on both sides of Capitol Hill.
Tips to make your home sparkle for your holiday guests
The holiday season's here - time for enjoying your favorite foods, cider simmering on the stove and gatherings of friends and family. If you're hosting a holiday celebration, prepping your home now will help reduce last-minute chores and make the season more enjoyable.
Son getting dinged for more money after escrow
Q: About a month ago, our son sold his home he had owned for 9 years. Three years ago, he obtained a loan modification to lower his payments. The title attorney that handled the recent closing received a pay-off from the lender in the amount of XXXXX. Our son needed to sell, so he took a loss and had to pay over $5,000 at the closing.
Average rate on 30-year fixed rate mortgage declines to 4.2 perecent.
WASHINGTON (AP) - Average U.S. rates on fixed mortgages declined this week after two weeks of increases, keeping home-buying affordable.
Existing home sales fall 3.2 percent during October as supply tightens
WASHINGTON (AP) - Fewer Americans bought existing homes in October, as higher mortgage rates, the 16-day partial government shutdown and a limited supply of houses on the market reduced sales.
HEART & SOUL
"A kitchen provides physical and spiritual nourishment, and for many homes is now the heart and soul of family life." That's how Terence Conran opened his classic Kitchen Book 20 years ago, and it's probably even truer today. The kitchen's central importance in most households means that Americans are paying more attention than ever to the design and decoration of this vital space - a search for functionality, comfort and beauty that's reflected in current ...
Festive tabletop ideas for holiday entertaining
Do you have the blues this holiday season? How about the pinks? Non-traditional holiday colors are a popular trend in home decor this yuletide, especially when it comes to decking the table for special gatherings with family and friends.
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